Madrid confirms Asensio signing

Madrid, Spain (SportsNetwork.com) - Real Madrid confirmed on Friday that the club has completed the signing of winger Marco Asensio from Mallorca for an undisclosed fee.

The 18-year-old Asensio will remain at the Segunda Division club for the remainder of the current campaign before making the switch to Madrid next season.

He was widely tipped to join Barcelona over the summer, but Madrid has swooped in to snap up the highly-rated youngster on a six-year contract.

"Real Madrid and RCD Mallorca have reached an agreement for the transfer of Marco Asensio, who will be connected to our club for six seasons," read a statement on Madrid's website. "The player will remain at Mallorca until the end of the current season."

In 14 appearances for Mallorca this season, Asensio has tallied three goals.